Bank should have delayed rate decision to avert crisis, says former pensions minister October 3, 2022 The Bank of England should have delayed its rate-setting meeting until after the government’s mini-budget to have avoided the crisis that rocked pension funds last week, a former pensions minister said today.
UK at risk of gas supply shortages this year, warns Ofgem October 3, 2022 The UK is at risk of gas shortages this winter following Russia's invasion of Ukraine and continued disruption to energy supplies, warned Ofgem.
Londoners face disruption as rail strike halts Overground on Wednesday October 3, 2022 Thousands of Londoners will face disruption on Wednesday as rail strikes halt all services on the Overground. Following a 24-hour strike on Saturday, train drivers at London Overground and 14 other operators will walk out in a long-standing dispute over salaries. Disruption will affect services on: Avanti West Coast, Chiltern Railways, CrossCountry, Greater Anglia, Great [...]
Brokers back Next 15 in final push for M&C Saatchi takeover October 3, 2022 After months of back and forth, Next 15 may just be on the home straight for a deal to takeover M&C Saatchi. It comes after rival contender AdvancedAdvt announced that its offer for the advertising giant had lapsed on Friday. Excluding Vin Murria and her investment vehicle AdvancedAdvt’s 22 per cent stake in the ad [...]
Exclusive: Ukraine urges West to slash Russian war revenues October 3, 2022 The West needs to slash Russia's revenues from soaring oil and gas prices, argued Naftogaz, Ukraine's state energy provider.
Connecting? Vodafone confirms merger talks with Three UK October 3, 2022 Vodafone confirmed it was in merger talks with Three UK this morning, setting the scene to become the largest mobile telecoms supplier in Britain. The FTSE 100 firm said it was in discussions with CK Hutchison, Three’s Hong-Kong parent company, with the view of combining the two UK arms, with Vodafone owning 51 per cent [...]
SMMT: UK automotive needs investments, not government handouts October 3, 2022 The UK automotive sector needs a renewed focus on investment, not government handouts – said industry executive Mike Hawes. According to Hawes – chief executive of the Society of Motor Manufacturers and Traders (SMMT) – car makers need a “competitive framework that is as competitive as many other countries with whom we trade and with [...]
Telecom Plus shares surge as customers snap up bargain deals October 3, 2022 Telecom Plus shares surged over 20 per cent this afternoon after the utility services giant hiked full-year profit guidance after posting record customer growth during the first half of the year. The company nabbed 86,004 new customers in the six months to September, taking its total customer base to 814,684 and representing an annualised growth rate of [...]
Rees-Mogg brushes off U-turn on scrapping 45p tax rate as ‘just politics’ October 3, 2022 The government’s stunning decision to U-turn on its plan to slash taxes for the country’s highest earners has been described as “just politics” by business secretary Jacob Rees-Mogg. Rees-Mogg said at a Tory conference fringe event today that “it is a political reality that sometimes things you want to do don’t receive the approbation of [...]
IFS warns ‘massive spending cuts will still be needed’ despite Kwarteng U-turn October 3, 2022 The Chancellor’s U-turn on his plans to axe the 45p tax rate will do little to ease the pressure on the UK’s public finances and the mammoth spending cuts needed to get borrowing back on track, think tank experts have warned. Paul Johnson, director of the Institute for Fiscal Studies (IFS), said the about-turn on [...]
